Like this article? PLEASE +1 it!

What’s so difficult about building a successful startup?

Written by: Manik Kinra

Article Overview: The article covers the most difficult aspect of building a successful startup.

Free Download - Advertising during recession By Manik Kinra

What’s so difficult about building a successful startup?

I have been involved in two startups and around three other trials where I failed to even reach the stage of operation. There have been many people around who have given extremely hi-end reasons for a failure of a startup, reasons starting from the concept to the intent. But I have seen and realized that success or failure of a startup depends only on the effort, passion, desire and intent of the founder (& his team). There have been innumerable instances of startups which are exactly similar to so many already existing ventures but have still been able to create a market for themselves.

There was a time when I had around three different ideas which never moved out of conceptualization stage and today I find at least two of them being amongst the top startups in India. And the only reason I see when I look back is I never had the desire, intent to make them a hit – I never believed in myself and more importantly on my idea. I would also like to add that here the team that founder puts together is also extremely important. An individual can never been enough to build an organization and hence his management team holds the key for success. That’s when you start growing; you got to keep it in mind.

One major mistake that founders make in building team is by hiring people he or she likes. You are not marrying or sleeping with some one. You are building an organization and two people who cant fight, argue and create a feeling of discomfort at times amongst each other, can never take a startup to next level. So getting people who have studies together and had drinks when they were in college wouldn’t necessarily help. Now, I am not saying getting people whom you know wouldn’t work but what I am saying is not hire and get people in key positions just based on your liking – decide on the roles they can perform and add value.

I cant control but also write that over past few years I have seen and realized by myself that three key people makes the best combination, four is ok but anything above four and you are bound to be in trouble. The responsibility matrix will have too many stake holders passing the baton & no executer.

Lastly, if you have decided to go for entrepreneurship make sure you don’t look back until you achieve your mission. So if you plan to replace words in dictionary, do that and don’t stop until you do that, much like the mission of creADivity which aims to replace creativity from dictionary with creADivity & is well on path by winning TiE Entrepreneurship Award.

Go for it!

Related Articles

StartUp Costs

The Startup Visa Act of 2011

Passive-Aggressive Behavior Is Useless In A Startup

Finance Start-Up

Five Steps to Startup Success

Home > Starting-A-Business > Manik Kinra > Whats so difficult about building a successful startup

Article Tags: conceptualization stage, desire, drinks, failure, founders, india, instances, liking, management team, mistake, next level, passion, startups

About the Author: Manik Kinra
RSS for Manik's articles - Visit Manik's website

As a Founding Partner of i-Startups Consulting, a Startups Consulting Venture, I have been involved in working with startups across verticals and have provided advisory support right from building business plans to funding. I have also been writing on the latest startups in India on my i-startups blog.

Click here to visit Manik's website